Hard red winter wheat basis bids held steady on Friday as more wheat offers were noted, merchants said. Rail car offers on the spot market increased and domestic demand remained good. Several inches of snow have fallen in recent days across eastern Colorado and western Kansas, and the southern Plains, including parts of drought-stricken Texas, received much-needed rainfall.
The moisture should be beneficial to the new crop. Protein premiums for railcar wheat to and through Kansas City were unchanged except for a 4-cent gain posted for 12.80 percent protein wheat. Kansas City Board of Trade hard red winter wheat futures closed higher on Thursday, with the December up 22 cents at $7.38.